Forex brokers in Canada
7 of the 94 brokers we rate hold a licence from the Canadian Investment Regulatory Organization (CIRO), and 64 in total will open an account for someone in Canada. The gap between those two numbers is the most useful thing on this page.
How this page is builtWe hold each broker's own list of the countries it will not serve, so "accepts you" means "does not exclude you" - not a promise your application will be approved. Local regulation is read from the licences each broker publishes. Both lists are in rating order, and brokers holding no licence at all are left off entirely.
Regulated in Canada
These 7 brokers hold a licence from the Canadian Investment Regulatory Organization (CIRO). That is a different proposition from a broker that merely accepts your application: a regulator in your own country supervises the entity holding your money, and you have somewhere local to complain when it goes wrong.
CMC MarketsFCAASIC+58.7/10Get started CMC MarketsFind out more CMC Markets
Plus500FCAASIC+137.8/10Get started Plus500Find out more Plus500
FOREX.comCFTC/NFAFCA+67.7/10Get started FOREX.comFind out more FOREX.com
QuestradeCIRO7.3/10Get started QuestradeFind out more Questrade
FortradeFCAASIC+47.3/10Get started FortradeFind out more Fortrade
Interactive BrokersSFC (Hong Kong)6.5/10Find out more Interactive Brokers
OANDACFTC/NFAFCA+46.4/10Find out more OANDA
What that licence actually protects
CIRO oversees Canadian investment dealers directly, and very few international brokers hold the registration - which is why this list is short.
Retail leverage is capped at set per instrument by CIRO margin rules rather than one headline ratio. Brokers advertising far more are offering it through entities outside Canada, and which entity takes your account is decided by where you live rather than by which you would prefer.
Client accounts at CIRO dealers are covered by the Canadian Investor Protection Fund if the firm becomes insolvent.
None of it protects you from losing money on your own trades. It protects you from the firm failing, misusing client money or refusing to deal with a complaint - the risks you cannot manage yourself.
| Broker | Regulators | Founded | Client money segregated | Negative balance protection | Compensation scheme |
|---|---|---|---|---|---|
| CMC Markets | FCAASICBaFin+4 | 1989 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; EdW protection up to €20,000 for eligible German clients; CIPF protection for eligible Canadian investment accounts |
| Plus500 | FCAASICCySEC+12 | 2008 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; ICF up to €20,000 for eligible Cyprus clients |
| FOREX.com | CFTC/NFAFCAASIC+5 | 2001 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; CIPF protection for eligible Canadian clients; ICF up to €20,000 for eligible CySEC clients; no equivalent statutory US forex compensation scheme |
| Questrade | CIRO | 1999 | Yes | No | Canadian Investor Protection Fund (CIPF), generally up to CAD $1 million per eligible account category |
| Fortrade | FCAASICCySEC+3 | 2013 | Yes | Yes | FSCS up to £85,000 for eligible UK clients; CIPF protection for eligible Canadian clients; ICF up to €20,000 for eligible Cyprus clients |
| Interactive Brokers | SFC (Hong Kong) | 1978 | Yes | Yes | SIPC up to $500,000 including $250,000 cash limit for eligible US securities accounts; jurisdiction-specific schemes elsewhere |
| OANDA | CFTC/NFAFCAASIC+3 | 1996 | Yes | Yes | Jurisdiction-dependent; eligible UK clients may receive FSCS protection |
Every broker that accepts clients in Canada
64 brokers, in rating order. The 7 with a local licence are included here too, so this is the whole picture rather than the remainder.
TabTradeFSC (Mauritius)9.3/10Get started TabTradeFind out more TabTrade
EightcapASICFCA+49.2/10Get started EightcapFind out more Eightcap
AvaTradeCentral Bank of IrelandASIC+88.9/10Get started AvaTradeFind out more AvaTrade
ExnessCySECFCA+98.9/10Get started ExnessFind out more Exness- CMC MarketsFCAASIC+58.7/10Get started CMC MarketsFind out more CMC Markets
easyMarketsCySECASIC+38.3/10Get started easyMarketsFind out more easyMarkets
HYCMFCADFSA (DIFC)8.2/10Get started HYCMFind out more HYCM
GO MarketsASICCySEC+18.0/10Get started GO MarketsFind out more GO Markets
IGFCAASIC+87.9/10Get started IGFind out more IG
InstaForexFSC (BVI)7.9/10Get started InstaForexFind out more InstaForex
AAAFxMISA (Comoros)7.8/10Get started AAAFxFind out more AAAFx- Plus500FCAASIC+137.8/10Get started Plus500Find out more Plus500
MultiBank GroupASICMAS+67.8/10Get started MultiBank GroupFind out more MultiBank Group
FXOpenFCACySEC7.8/10Get started FXOpenFind out more FXOpen
TMGMASICVFSC (Vanuatu)+27.8/10Get started TMGMFind out more TMGM
EC MarketsFCAASIC+37.8/10Get started EC MarketsFind out more EC Markets
Blueberry MarketsASICFSC (Mauritius)+17.7/10Get started Blueberry MarketsFind out more Blueberry Markets
AxiASICFCA+27.7/10Get started AxiFind out more Axi
FP MarketsASICCySEC+47.7/10Get started FP MarketsFind out more FP Markets- FOREX.comCFTC/NFAFCA+67.7/10Get started FOREX.comFind out more FOREX.com
WebullSECFINRA+17.7/10Get started WebullFind out more Webull
ACY SecuritiesASICFSCA (South Africa)7.7/10Get started ACY SecuritiesFind out more ACY Securities
LibertexCySECBaFin7.6/10Get started LibertexFind out more Libertex
SwissquoteFINMAFCA+57.6/10Get started SwissquoteFind out more Swissquote
SkillingCySECFSA (Seychelles)7.5/10Get started SkillingFind out more Skilling
Trade.comCySECFCA+27.5/10Get started Trade.comFind out more Trade.com
Trading.comFCAASIC+27.5/10Get started Trading.comFind out more Trading.com
ADS SecuritiesCMA (UAE)7.4/10Get started ADS SecuritiesFind out more ADS Securities
Global PrimeASICVFSC (Vanuatu)7.4/10Get started Global PrimeFind out more Global Prime
PU PrimeFSA (Seychelles)FSC (Mauritius)+27.4/10Get started PU PrimeFind out more PU Prime
OctaCySECFSC (Mauritius)+27.4/10Get started OctaFind out more Octa
LiteFinanceCySECFSC (Mauritius)7.4/10Get started LiteFinanceFind out more LiteFinance- QuestradeCIRO7.3/10Get started QuestradeFind out more Questrade
- FortradeFCAASIC+47.3/10Get started FortradeFind out more Fortrade
FXCCCySECMISA (Comoros)+17.3/10Get started FXCCFind out more FXCC
FXOROCySEC7.2/10Find out more FXORO
Trade NationFCAASIC+47.2/10Get started Trade NationFind out more Trade Nation
Capital IndexFCA7.2/10Get started Capital IndexFind out more Capital Index
VT MarketsASICFSCA (South Africa)+27.2/10Get started VT MarketsFind out more VT Markets
SpreadexFCA7.1/10Get started SpreadexFind out more Spreadex
tastyfxCFTCNFA7.1/10Get started tastyfxFind out more tastyfx
Accendo MarketsFCA7.1/10Get started Accendo MarketsFind out more Accendo Markets
FinecoBank of ItalyCONSOB+17.1/10Get started FinecoFind out more Fineco
ATC BrokersFCACIMA (Cayman Islands)+17.1/10Get started ATC BrokersFind out more ATC Brokers
TopFXCySECFSC (BVI)+17.0/10Get started TopFXFind out more TopFX
iFOREXCySECFSC (BVI)7.0/10Get started iFOREXFind out more iFOREX
OrbexFSC (Mauritius)FSA (Seychelles)7.0/10Get started OrbexFind out more Orbex
FXGiantsFSC (BVI)6.9/10Get started FXGiantsFind out more FXGiants
Fintrix MarketsFSC (Mauritius)6.9/10Get started Fintrix MarketsFind out more Fintrix Markets
FXDDNot on record6.8/10Get started FXDDFind out more FXDD
Ox SecuritiesNot on record6.8/10Get started Ox SecuritiesFind out more Ox Securities
Focus MarketsASICFSC (Mauritius)6.6/10Get started Focus MarketsFind out more Focus Markets- Interactive BrokersSFC (Hong Kong)6.5/10Find out more Interactive Brokers
Charles SchwabSECFINRA+16.5/10Find out more Charles Schwab
PepperstoneASICFCA+56.5/10Find out more Pepperstone
VantageASICFCA+36.4/10Find out more Vantage
FBSFSC (Belize)6.4/10Find out more FBS- OANDACFTC/NFAFCA+46.4/10Find out more OANDA
eToroFCACySEC+56.3/10Find out more eToro
EquitiFCASCA (UAE)+46.3/10Find out more Equiti
City IndexFCAASIC+16.2/10Find out more City Index
STARTRADERASICFSCA (South Africa)+36.1/10Find out more STARTRADER
Trading 212FCABaFin+35.9/10Find out more Trading 212
BlackBull MarketsFMA (New Zealand)FSA (Seychelles)5.4/10Find out more BlackBull Markets
Funding an account from Canada
3 of these brokers record Interac among their funding methods. A domestic transfer is usually same-day and free where an international wire is neither, so it is worth more than it looks when two brokers are otherwise close.
Check the withdrawal routes as well as the deposit ones. They are frequently not the same list, anti-money-laundering rules generally require funds to return the way they arrived, and the difference only becomes apparent at the point you want your money back.
Trading from Canada
It is better protected, which is not quite the same thing. CIRO oversees Canadian investment dealers directly, and very few international brokers hold the registration - which is why this list is short.
Client accounts at CIRO dealers are covered by the Canadian Investor Protection Fund if the firm becomes insolvent.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
64 of the 94 brokers we rate do not list Canada among the countries they restrict, and 7 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the Canadian Investment Regulatory Organization (CIRO), retail leverage is capped at set per instrument by CIRO margin rules rather than one headline ratio. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside Canada, and which entity takes your account is decided by where you live rather than by which you would prefer.
3 of these brokers record Interac among their funding methods, which usually means same-day deposits and no international transfer fee.
Check the withdrawal side as well. The routes are frequently not the same list, and the difference only shows up when you want your money back.
It is better protected, which is not quite the same thing. CIRO oversees Canadian investment dealers directly, and very few international brokers hold the registration - which is why this list is short.
Client accounts at CIRO dealers are covered by the Canadian Investor Protection Fund if the firm becomes insolvent.
None of that protects you from losing money on your own trades. It protects you from the firm failing or misbehaving, which are the risks you cannot manage yourself.
64 of the 94 brokers we rate do not list Canada among the countries they restrict, and 7 of those hold a local licence.
"Does not restrict" is what our data supports. It is not the same as being authorised to serve you, and it is not a promise your application will be accepted - brokers apply their own checks on top of ours.
Under the Canadian Investment Regulatory Organization (CIRO), retail leverage is capped at set per instrument by CIRO margin rules rather than one headline ratio. That is a regulatory limit rather than a broker decision, and it applies whatever figure the marketing carries.
Brokers advertising far more - 1:500, 1:1000 - are offering it through entities outside Canada, and which entity takes your account is decided by where you live rather than by which you would prefer.
3 of these brokers record Interac among their funding methods, which usually means same-day deposits and no international transfer fee.
Check the withdrawal side as well. The routes are frequently not the same list, and the difference only shows up when you want your money back.